Truist analyst Jake Bartlett downgraded Dave & Buster’s to Hold from Buy with a price target of $36, down from $56. The firm says the unexpected resignation of its CEO, worse than expected sales lifts from recent remodels and another quarterly sales miss in Q3 shakes its confidence in Dave & Buster’s sales catalysts. While the stock’s valuation is not demanding, Truist prefers to remain on the sidelines until there is evidence of its turnaround, the analyst tells investors in a research note.
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